• Coins MarketCap
    • Coins MarketCap
    • Crypto Calculator
    • Top Gainers and Loser of the day
  • Crypto Exchanges
  • Bitcoin News
  • Crypto News
    • Cryptocurrency
    • Blockchain
    • Finance
    • Investing
    • View all latest Updates regarding crypto
Wednesday, July 23, 2025
WIREOPEDIA
No Result
View All Result
Contribute!
CONTACT US
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
WIREOPEDIA
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
No Result
View All Result
WIREOPEDIA
No Result
View All Result
Home Blockchain

Shiba Inu Investors Turn Bearish Amid Massive SellOffs At $0.000018, But This Could Be Good News

by wireopedia memeber
October 26, 2024
in Blockchain, Crypto, Crypto Market, Cryptocurrency, Finance, Investing, Market
0
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter

Shiba Inu investors have turned bearish amid a wave of sell-offs, which have halted the meme coin’s rally beyond the $0.000018 price level. On-chain analytics platform Santiment has provided insights into why this bearish sentiment could be positive for the Shiba Inu ecosystem. 

You might also like

Loungers-owner Fortress plots stay at Malmaison hotels

Traders jailed for interest rate rigging have convictions overturned

Fees, collateral give DeFi edge as TradFi eyes crypto loans: 1inch exec

Shiba Inu Investors Turn Bearish Amid Selloffs

Shiba Inu investors have turned bearish amid the wave of sell-offs in the crypto market. The broader crypto market has corrected, led by the Bitcoin price, causing SHIB to tumble. IntoTheBlock data highlighted the wave of selloffs in the Shiba Inu ecosystem, as large transactions for the meme coin are currently bearish, indicating whales are selling off their coins.

In an X post, Santiment also highlighted the bearish sentiment towards SHIB as the crowd’s optimism turned to doubt about any more upside moves. However, the on-chain analytics platform suggested this could be a good thing, noting that Shiba Inu is one of the largest coins showing the “best upside” based on buying into the crowd FUD. 

The platform explained that the crypto market still remains a speculative sector, even for the largest coins by market cap. As such, the markets typically move in the opposite direction of the crowd’s expectation. This means that the bearish sentiment among Shiba Inu investors can lead to “rewarding results” for those willing to buy the dip amid the crowd’s selloffs. 

Santimet mentioned earlier that these coins always experience significant rallies when market participants are bearish. Therefore, amid these massive selloffs, SHIB could experience a price surge that will melt faces, leaving the bears in disbelief. 

The on-chain analytics platform also mentioned other top coins like Bitcoin, Dogecoin, Chainlink, XRP, and PEPE as showing the best upside based on how investors are buying them amid the crowd FUD. 

SHIB’s Fundamentals Point To A Price Rebound

Shiba Inu’s fundamentals, such as the meme coin’s burn rate and the rising Shibarium daily transactions, point to a price rebound for SHIB. Shibburn data shows that the Shiba Inu burn rate has skyrocketed by over 65,500% in the last 24 hours, with 2.6 million SHIB tokens burnt during this period. 

This development comes amid the Shiba Inu team’s introduction of a new SHIB burning method through Shibarium. The WoofSwap team behind the decentralized exchange (DEX) on Shibarium explained that more SHIB will be burnt by minting a new token called FEED. 

Meanwhile, Shibarium’s daily transactions are skyrocketing, which is bullish for the Shiba Inu price. Shibariumscan data shows daily transactions on the network are back in the millions, having ranged between 10,000 and 20,000 for most of this year. On October 24, Shiabrium recorded 4.77 million daily transactions, its highest this year. 

At the time of writing, the Shiba Inu price is trading at around $0.000017, down over 1% in the last 24 hours, according to data from CoinMarketCap. 

Shiba Inu price chart from Tradingview.com

Read Entire Article
Tags: BitcoinistBlockchainCoin SurgesCryptocurrenciesMarket StoriesTrading
Share30Tweet19

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Related News

Fuel for rent: Harnessing idle GPU power can drive a  greener tech revolution

Fuel for rent: Harnessing idle GPU power can drive a greener tech revolution

December 21, 2024
Israel claims new Iran missiles detected as shorts wrecked after Bitcoin retook $105k amid ceasefire

Israel claims new Iran missiles detected as shorts wrecked after Bitcoin retook $105k amid ceasefire

June 24, 2025

Solana Futures ETFs Hit Wall Street — Will SOL Soar Or Crash?

March 20, 2025

Browse by Category

  • Blockchain
  • Breaking News
  • Business
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Finance
  • Health Care
  • Investing
  • Market
  • Politics
  • Strange
  • Technology
  • UK News
  • US News
  • World
WIREOPEDIA

Wireopedia is an automated news feed. The Wireopedia AI pulls from sources with different views so you can see the various sides of different arguments and make a decision for yourself. Wireopedia will be firmly committed to the public interest and democratic values.

Privacy Policy     Terms and Conditions

CATEGORIES

  • Blockchain
  • Breaking News
  • Business
  • Crypto
  • Crypto Market
  • Cryptocurrency
  • Defense
  • Entertainment
  • Finance
  • Health Care
  • Investing
  • Market
  • Politics
  • Strange
  • Technology
  • UK News
  • US News
  • World

BROWSE BY TAG

Bitcoin Bitcoinist Blockchain Breaking News Business BuzzFeed Celebrity News Coin Surges Cointelegraph Cryptocurrencies Cryptoslate Defense Entertainment Health Care insidebitcoins Market Stories newsbtc Politico Skynews Strange Technology Trading UK US World

RECENT POSTS

  • Gaza faces mass starvation with supplies ‘totally depleted’, aid agencies warn
  • Loungers-owner Fortress plots stay at Malmaison hotels
  • Traders jailed for interest rate rigging have convictions overturned
  • Fees, collateral give DeFi edge as TradFi eyes crypto loans: 1inch exec
  • JPMorgan Explores Crypto-Backed Loans and Stablecoins as Bitcoin Hyper Surges

© 2024 WIREOPEDIA - All right reserved.

No Result
View All Result
  • Home
  • Breaking News
  • World
  • UK
  • US
  • Entertainment
  • Business
  • Technology
  • Defense
  • Health Care
  • Politics
  • Strange
  • Crypto News
  • Contribute!

© 2024 WIREOPEDIA - All right reserved.

You have not selected any currencies to display